The Parliamentary Standing Committee on the Ministry of Finance on Sunday stressed modernising accounting and financial reporting systems and reducing reliance on physical contact through digital and automated systems to improve transparency, accountability and revenue collection.
The second meeting of the committee of the 13th Jatiya Sangsad was held at the Jatiya Sangsad Bhaban with its chairman Mushfiqur Rahman in the chair.
The meeting emphasised making the accounting and financial reporting system more transparent, modern and effective.
The committee observed that increased accountability in the system would help enhance efficiency and effectiveness in financial management.
It also stressed the need to reduce dependence on physical contact in different processes as part of efforts to prevent corruption, and introduce digital and automated systems instead.
The committee said merely identifying or punishing individuals involved in corruption would not be enough. Rather, the processes or systems through which corruption takes place should be changed or eliminated, according to the meeting.
Such measures would reduce costs and harassment faced by businesses, simplify the business environment and, at the same time, help increase government revenue, the meeting observed.
The National Board of Revenue (NBR) also made a presentation on its capacity to meet government expenditure requirements, measures taken to narrow the tax-to-GDP gap, and the NBR’s organisational structure and necessary measures.
Committee members took part in discussions on the issues presented at the meeting.
Finance Minister and committee member Amir Khosru Mahmud Chowdhury, Chief Whip Md Nurul Islam Moni among others attended the meeting.
The NBR’s First Secretary (Tax Policy), Secretary of the Parliament Secretariat, Secretary of the Finance Division, Secretary of the Financial Institutions Division, Secretary of the Economic Relations Division (ERD), NBR chairman and members, senior officials and relevant officials of the Parliament Secretariat were also present.